Guideline Value for Durgai Avenue 13th Street

Durgai Avenue 13th Street guideline value

The current guideline value of Durgai Avenue 13th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Durgai Avenue 13th Street has changed

The guideline value for Durgai Avenue 13th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, the register has no figures for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 11%, but from 2017 to 2023, the value increased by 49%. Overall, the guideline value has increased by 47% from 2012 to 2024.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with the median being Rs 2,200 per sq.ft. Durgai Avenue 13th Street's 2024 guideline value aligns with this median.

• Durgai Avenue 12th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 14th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 11th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 10th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 16th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 17th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 13th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It's important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durgai Avenue 13th Street?

The Sub Registrar Office that covers Durgai Avenue 13th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Selavoyal

The guideline value is a crucial factor when registering property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Durgai Avenue 13th Street?

The current guideline value of Durgai Avenue 13th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Durgai Avenue 13th Street?

Durgai Avenue 13th Street is classified as Residential Class II Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Durgai Avenue 13th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.